Options Trend
On the call options front addition of open interest was witnessed in last trading session at strike price of
5400 and 5500.
On the put options front we have seen addition of open interest in last trading session at strike price of 5100 and 5200.
OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the April Series. In coming sessions market may trade in a range of 5100-5400. On the call option front strike price with the highest open interest i.e. 5400 and 5500 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e.5100 and 5200 may act as a support on the downside.
Nifty Futures Today
Nifty Futures shut stop at 5319.60 up 71.15 points or 1.36 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5330 else below support level of 5220 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5330 & above this level the next resistance is seen near the 5410 mark.
SUPPORT: It has first support close to the level of 5220 & below this level the next support is seen near 5180 mark.
Ambuja Cement
Ambuja cement showed upward movement . As the stock closed on positive note a further upward movement can be seen in the stock once it breaks its resistance. One may go for buying the stock once it breaks its resistance level.
Ranbaxy
RANBAXY showed range bound move today and closed on positive note. The stock faces important level at 520. It is expected to continue its positive move in short term, also further up move can be expected if it sustains above the resistance level.
Reliance Power
The stock showed a continuous up move during the trading hour and closed on positive note.The trend presently in the stock is sideways.The stock is now facing resistance at 121 and has support at 112. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
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